How many of these money quirks do you have?

Ever go to Target for toilet paper and end up spending $179.86 on toilet paper Can't view this email properly? [View in Browser]() {NAME}, Ever go to Target for toilet paper and end up spending $179.86 on toilet paper, and a new sweater, and a fake plant, and a new frying pan, and also, isn’t it time to replace your pillows? Might as well get those too… And then justify this unplanned expense because you “needed this stuff anyway”? If it feels like I just put you on the spot, this email about irrational money quirks is for you. (If you hate spending — even when you could comfortably blow a hundred bucks on an impulse buy — this email is ALSO for you.) This receipt is longer than any relationship I've ever been in 5 ways money makes us act irrationally After 20 years of teaching personal finance, I’ve identified a few ways people tend to behave irrationally with money. 1. Overspending AKA when you go to the store for one thing and leave with 15. Sure, sometimes it’s stuff you actually need. But often it’s not. This becomes especially dangerous when you use a credit card — it’s just too easy to [“swipe and forget about it” until the bill comes.]() [I Will Teach You to Be Rich podcast]() I recently spoke to April and Kevin on the [I Will Teach You to Be Rich podcast](). They only have $2k in savings, but April can’t stop overspending. [Listen to the entire episode here](). Why do we overspend? Because buying something [delivers an easy rush of dopamine and feel-good endorphins](). Shopping feels emotionally fulfilling, unti​​l you overspend and beat yourself up for it. But the next time you’re looking to feel better, you’ll overspend again. It’s a vicious cycle. The good news is that if you want to stop the cycle, acknowledging that it’s happening is a huge first step. 2. Oversaving If you tend to obsess about saving, I want you to dig deep. Think about what you’re actually looking for when you’re staring at that number in your savings account. Is it safety? Security? Some kind of assurance that your future will be everything you want it to be? The ability to guarantee your loved ones they’ll be taken care of? None of these are bad things to want. But at the risk of being morbid, remember that tomorrow isn’t guaranteed. And ask yourself: Would it be possible to continue saving for my goals, while still making room for my Rich Life now? IWT feedback Joy is important. 3. Suddenly being broke Many people actually spend more than they make every month. Which is easy to do, once you stop [paying attention to how you’re spending](). You might be able to ride that roller coaster for a while. But eventually, it can dump you into a pretty uncomfortable place. Another cause of surprise broke-ness? When homeowners fail to account for Phantom Costs, which add up quickly: Phantom Costs Or maybe you spend money because you’re under pressure to keep up with familial or cultural expectations. My podcast guests, [David and Halima, were $500,000 in debt]()…but planned to keep shelling out cash on renovations, so they wouldn’t have to deal with “backlash” from Halima’s family. That kind of pressure is no joke! 4. Being unnecessarily frugal or stingy Do you find yourself nickel-and-diming every purchase, even when you have more than enough money to cover it? This can be a tough money habit to break, because it’s often related to a history of financial insecurity. Maybe you grew up in a family that didn’t have much. Or you grew up comfortable, but went through some lean times later. Either way, you never want to struggle like that again. So you cling to your money instead of using it to support your Rich Life. The problem is that when you worry about money long enough, being worried about money becomes your identity. 5. Avoiding thinking about money When you avoid thinking about money (or opening bills, or logging into your bank account) because it scares or stresses you out, you’re reinforcing a key message to yourself: “I’m not good with money.” Netflix show I worked with Frank [on my Netflix show]() to face his money fears head-on. And maybe you’re not, {NAME}…right now. But you can be. You just have to be willing to be a little uncomfortable at the start. Honesty will get you closer to your Rich Life Did any of these behaviors or mindsets resonate with you? Maybe one or two? Pat yourself on the back. By being willing to examine your own beliefs around money, you’re taking a big step toward building a life where your money helps you say YES to your goals, dreams, and the things you love — while ruthlessly cutting the stuff that just doesn’t matter to you. That’s a Rich Life. [Signature] P.S. All of my podcast guests fill out a Conscious Spending Plan. It shows them how much they’re spending on fixed costs like rent and groceries, how much they can spend guilt-free, and opportunities to spend more or less depending on what matters to them. Want to understand where your money goes every month? You can [get the same worksheet right here](). [Programs]() [Podcast]() [Netflix show]() [Books]() [Website]() [IG]() [in]() [X]() [YT]() Was this forwarded to you? [Sign up here](). [Unsubscribe here](. 548 Market St #89946 San Francisco, CA 94104-5401